Unwrought Zinc - GST Rates & HSN Code 7901

Unwrought Zinc is an important metal that is widely used in several industries. It is a bluish-white metal, which is durable and can be easily cast into different shapes. The metal is known for its excellent corrosion resistance and has high electrical conductivity. Unwrought Zinc is used in several applications, including galvanizing, die-casting, and in the production of brass and other alloys.

GST Rates and HSN Code for Unwrought Zinc

HSN Code for Unwrought Zinc is 7901, and the GST rate applicable on the metal is 18%. The GST rates and HSN codes for various metals and alloys have been revised multiple times over the years, and the latest updates were made in the 43rd GST Council meeting held on 28th May 2021.

Unwrought Zinc falls under Chapter 79 of the GST HSN code. Chapter 79 includes all metals and alloys, and the GST rates and HSN codes for each of these metals vary depending on the type of metal and its application. Unwrought Zinc is an important metal, which is used for a variety of applications, including the production of brass, die-casting, and galvanizing.

What is GST?

GST or Goods and Services Tax is a comprehensive tax system that is levied on the supply of goods and services in India. The GST system has replaced multiple indirect taxes, including VAT, CST, and Service Tax, and has brought a uniform tax structure across the country. GST is a destination-based tax, which means that the tax is collected at the point of consumption and is paid to the state where the goods or services are consumed.

Understanding HSN Code

HSN or Harmonized System of Nomenclature is a six-digit code that is used to classify goods and services in India. The HSN code is used to identify the products or services and is used to levy the correct taxes on them. The HSN code for Unwrought Zinc is 7901.

Conclusion

In conclusion, Unwrought Zinc is an important metal that is used for a variety of applications. The GST rates and HSN code for Unwrought Zinc are 18% and 7901, respectively. Understanding the GST rates and HSN codes for various products and services is crucial for businesses to ensure compliance with the tax laws and to avoid any penalties or fines.